Aether Industries gains on commercializing manufacturing site in Surat
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Aether Industries is currently trading at Rs. 873.70, up by 9.40 points or 1.09% from its previous closing of Rs. 864.30 on the BSE.
The scrip opened at Rs. 876.55 and has touched a high and low of Rs. 885.40 and Rs. 863.85 respectively. So far 1263 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1050.00 on 19-Sep-2022 and a 52 week low of Rs. 699.85 on 03-Jun-2022.
Last one week high and low of the scrip stood at Rs. 913.00 and Rs. 850.05 respectively. The current market cap of the company is Rs. 10906.52 crore.
The promoters holding in the company stood at 87.09%, while Institutions and Non-Institutions held 9.88% and 3.02% respectively.
Aether Industries has commercialized its Manufacturing Site 3 at GIDC Industrial Estate, Sachin, Surat, Gujarat, India. The total CAPEX planned for the site is around Rs 190 crore, of which Rs 163 crore has been raised from the IPO that the company concluded in June 2022 and remaining Rs 27 crore funded from internal accruals.
The trial runs have been started off and the commercial production of the plant will start within next ten days from January 16, 2023. The Manufacturing Site 3 will add capacities to the north of 3500 MT per annum for production of its five new specialty chemicals / intermediates for the Pharma Sector, which will be launched.
Aether Industries is a specialty chemicals manufacturer in India focused on producing advanced intermediates and specialty chemicals involving complex and differentiated chemistry and technology core competencies.
